China’s Angel Yeast to invest USD 55 mn in new factory in Beni Suef

INVESTMENT WATCH- China’s Angel Yeast is planning to invest USD 55 mn in a new food additives plant in Beni Suef, according to a statement by the General Authority for Freezones and Investors (GAFI). The company aims to increase its production of dry yeast to 35,000 tonnes from the current 23,000 tonnes. In related news, the Egyptian Businessmen Association (EBA) is hosting 13 Chinese companies this week to discuss investments in the food and agriculture industries, CEO Mohamed Youssef tells Al Mal.